Valuation por fluxo de caixa descontado: um estudo de caso da empresa Cielo S.A

Abstract

This work evaluates companies with the main objective of calculating the fair value of the shares of the company Cielo S.A., traded on the Brazilian stock exchange, B3, under the code CIEL3, through valuation using the discounted cash flow method, and checking whether or not the value is undervalued compared to market values. To this end, the theory and practice of discounted cash flow and valuation by market multiples are used. As a result, a value per share was found higher than that practiced in the market, using the discounted cash flow method, the company's value was estimated at R$ 23,084,679,015.46 and a fair price per share of R$ 8.50, When compared with the company's share price on 12/31/2022 there is a difference of -38,33%, therefore, there is a possible undervaluation of the company's value.